LATEST THINKING

Digital disruption: The growth multiplier

Overview

Growing the digital economy

While organizations are taking advantage of digital technologies, many economies remain digitally immature. Even though Accenture Strategy research estimates that the digital economy, involving some form of digital skills and digital capital, represents 22.5 percent of the world economy, digital’s ability to unlock value is far from being fully exploited.

Understanding which digital investments can best improve gross domestic product (GDP) is the subject of recent analysis by Accenture Strategy and Oxford Economics.
Accenture Strategy research highlights the increasing importance of digital to world economies, with our forecast of digital economy growth rising to 25.0 percent by 2020.

Our analysis also shows the potential uplift in GDP is even greater if digital investments are tailored to the specific needs of each economy. We reveal an optimal combination of investments in digital skills, technologies and accelerators could help business leaders and policy makers be more competitive, productive and enrich people’s quality of life.

Key Findings

Accenture Strategy research evaluated the digital approach of 11 national economies and 13 industry sectors and found that 28 percent of output in mature market economies is digital. But there are greater gains to be had in productivity and growth.

Earlier research showed us a 10-point increase in digital density is associated with an approximately 0.4 percentage point increase in total factor productivity growth for advanced economies. If we optimize that 10-point growth across three value levers—digital skills, digital technologies and digital accelerators—digital can act as a growth multiplier to enhance productivity and output gains across the economy.

For example, in the United States, a 10-point digital density improvement optimized across the three levers could add 2.1 percent to 2020 gross domestic product, the equivalent of adding US$421 billion to the economy.

Digital value levers

Recommendations

Exploit the growing digital economy. Key actions business leaders and policy makers must take to improve their economic opportunities.

Three ways to drive new productivity and growth include:

Prioritize digital investments based on value opportunities.

Balance digital investments so that an optimal combination of digital improvements helps you to deliver the best returns.

Compete using an industry-specific digital strategy.

Be clear on which platform, what roles and which data are fundamental to compete successfully in your industry.

Create the right environment for digital transformation.

Improve your “digital IQ,” teaming with government to open up cross-industry relationships and change the rules of competition.

Digital Transformation of Industries

Digital Consumption: The race to meet customer expectations

Accenture and the World Economic Forum released a cross-industry multi-year report presented at this year's Davos: Digital transformation of industries: Digital Consumption. This report assesses three areas where the battle to attract and retain customers will be fought: products and services, hyper-personalization and ownership to access.

With the advent of digital and advances like one-click purchasing, consumers are making companies work harder to earn their money. And the consumer industry has responded, transforming every link of the value chain. But exactly how big is the prize for players that adopt digital approaches? According to new research by Accenture and the World Economic Forum
it is estimated that over $5 trillion in societal impact can be found through cost savings and productivity improvements for consumers and environmental benefits for society.

Established players and startups alike are experimenting on the fringe of the industry. Turning this commodity into an experience built around the customer. Thanks to digital. According to new research by Accenture and the World Economic Forum (WEF), the value from rapid digital transformation for the industry is a staggering $1.3 trillion of value by 2025.

To say digital is transforming the logistics industry is an understatement. New digitally enabled delivery services and business models are capturing more value every day. How big is the prize for players that adopt digital approaches? And what are the practical steps they can take now to make the change? New research from Accenture and the World Economic Forum
reports that there is $1.5 trillion of value at stake for logistics players and a further $2.4 trillion worth of societal benefits as a result of digital transformation in the coming years.

PUBLIC SERVICE

Bernard Le Masson, managing director with Accenture Strategy, shares how the Growth Multiplier provides insight into the role of digital and economic growth. He explains how this is especially significant to governments and other public service top civil servants as they look at ways to strengthen GDP growth.

Invest in Digital Skills

Digital disruption: A window of opportunity for the workforce of the future

Conventional wisdom suggests that employees are a barrier to digital progress, yet Accenture Strategy research shows the opposite is true. Compared with business leaders, employees are more positive about digital improving their work experience and job prospects, and more proactive in preparing themselves for the demands of a digital business.

The Platform Economy

Welcome to the platform economy

Hear what Bruno Berthon, managing director of Accenture Strategy, has to say about the platform economy—where organizations tap into resources and capacity that they do not have to own. Find out how the platform business model is potentially the greatest opportunity for digital growth today.

"The high growth rates of many digital companies can now be enjoyed by traditional industry incumbents using platform models to create an ecosystem of partners and customers."

Select your location

No results found

We were unable to find a match for "$searchstring." Try searching again by using different or more general keywords and check for spelling errors.

RECOMMENDED CONTENT

FILTER RESULTS

FILTER RESULTS

Connect with our Talent Community

Personalize your Accenture Career search and receive tailored news, insights and job alerts. Join our Talent Connection to learn more about the challenging and rewarding career opportunities offered by Accenture.